This fantastic two bedroom Condo townhouse is located in the very well respected area of Warrensville Heights and just 2.4 miles from Highland Hills one of Clevelands premier suburbs. The property has been completely refurbished from top to bottom and is like new, also included in the property are the appliances. The property also has brand new tenants just moving in paying $750 per month. This property is under management by a great local Cleveland property management company.
Warrensville Heights is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like Highland Hills and Maple Heights. The property is just 12.8 Miles from Downtown Cleveland and only 2.4 miles from Highland Hills. the Village of Highland Hills has become one of Greater Cleveland’s premiere suburbs. Located near Interstate 271, the Village is home to major corporations.
Purchase price: 39,900
Gross annual rental income: $9,000
Property running costs: $3,486
(Tax, insurance and management costs)
Net annual rental income: $5,514
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 14%